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Policybazaar makes a firm debut, lists at over 17% premium above issue price

Policybazaar share price: Shares of PB Fintech, the operator of online insurance aggregator Policybazaar and credit comparison portal Paisabazaar, made a firm debut and got listed at a premium of 17.35 per cent above their issue price in the stock exchanges today.

The scrip got listed at Rs 1,150.00 apiece on both the BSE and National Stock Exchange (NSE), thereby registering a gain of 17.35 per cent from its offer price of Rs 980.00.

The stock continued to inch higher from its opening levels touching a high of Rs 1,238.00 on BSE and Rs 1,235.00 on the NSE.

At 11:31 am, the scrip was trading at Rs 1231.65 on the BSE, up 25.68 per cent from the issue price while on NSE it was at Rs 1,227.70. The m-cap was at Rs 55,454.79 crore, data from the BSE showed.

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Nearly 2.5 crore shares of PB Fintech were traded so far in the intraday trad on NSE while over 9.68 lakh shares exchanged hands on the BSE, data from the respective stock exchange showed.

Festive offer

The Rs 5,710 crore initial public offering (IPO) of PB Fintech was subscribed 16.59 times during its offer period from November 1-3, 2021.

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It comprised a fresh issue of equity shares worth Rs 3,750 crore and an offer for sale (OFS) of Rs 1,960 crore by existing shareholders.

PB Fintech is the leading online platform for insurance and lending products. It leverages the power of technology, data and innovation.

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The company provides convenient access to insurance, credit and other financial products and aim to create awareness amongst Indian households about the financial impact of death, disease and damage.

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